Firm Management
LBMC Adds Kentucky CPA Firm Strothman & Co.
LBMC will add 60 professionals from Strothman & Co. as part of the transaction, which closes on Nov. 1.
Oct. 23, 2023
Top 40 accounting firm LBMC, which is based in Brentwood, TN, is merging in Louisville-based CPA firm Strothman & Co. on Nov. 1, expanding LBMC’s geographic footprint across multiple states. Financial terms of the deal were not disclosed.
The Strothman & Co. transaction will add 60 professionals and brings LBMC to a total of five locations, with more than 850 team members, serving more than 11,000 clients across the nation.
“While LBMC’s growth over the past 40-plus years has been primarily organic, our firm is now aggressively opportunistic about adding talent, skills, and filling gaps in our service offerings to ensure we continue to evolve as the firm of the future,” LBMC CEO and Managing Partner Jeff Drummonds said in a press release. “The Strothman & Co. team further enhances our service offerings and allows us to expand our Kentucky presence, where we currently serve over 100 clients across the state.”
Strothman & Co. is a full-service accounting and advisory firm serving clients in Kentucky, Indiana, and elsewhere. The firm offers a wide range of services to organizations and individuals, including audit, assurance, tax planning, outsourced accounting, strategic advisory, and wealth management. Strothman has offices in Louisville and Middletown, KY, and in Jeffersonville, IN.
“We are very excited to be joining a nationally renowned team of experts, who bring complementary strengths to the table while being fully aligned on core values, exceptional client experience and culture,” said Bill Meyer, managing partner of Strothman & Co. “We believe this transaction will bring numerous benefits to both our team members and valued clients.”
LBMC currently has offices in Chattanooga, Nashville (Brentwood), and Knoxville, TN, and Charlotte, NC. During its last fiscal year, the firm had revenue of $192.7 million.